At the beginning of 2019, several major infrastructure projects will be completed in Panama.
After the inauguration of the first metro line in Central America in Panama City in 2014, Metro Line 2 is now close to completion. This will expand the public transport network and hopefully reduce the city’s major traffic problem a little.
The modern Terminal 2 of the international airport in Panama City should be opened in the first quarter of 2019. The airport is currently working well beyond its capacity limits and urgently needs the new terminal. With over 80 direct connections, Panama flies directly to far more destinations than any other airport in Central and South America.
After a construction period of five years, the third bridge over the Panama Canal will be completed at the beginning of 2019. This bridge was built on the side of the Atlantic Ocean and is part of a major infrastructure plan by the government to develop the Caribbean side of Panama (85% of life in Panama is on the Pacific side).
The cruise terminal in Panama City on the Pacific coast will be completed by mid-2019. Until now, cruise ships could only dock on the Caribbean side of Panama (city of Colon). Now thousands of cruise tourists will be able to arrive or depart directly from Panama City. This will promote tourism in Panama, which is still in its very early stages, and increase the low hotel occupancy rate in the city.
With the visit of the Pope and the World Youth Day in Panama at the beginning of 2019, the new congress centre, which will be the largest in Central America, will also be opened. The project with construction costs of approx. 200 million USD will bring more trade fairs, companies and tourists to Panama.
Construction of the fourth bridge over the Panama Canal will start in 2019. This bridge will be built in Panama City and will completely change the traffic situation of the city. In addition to cars and pedestrians, this bridge will also bring the new Metro Line 3 across the Panama Canal, connecting the hundreds of thousands of inhabitants of the suburbs with Panama City. This billion USD project is divided into the construction of the bridge (Chinese consortium), the metro line and the purchase of the metro trains (Hitachi). Completion is scheduled for 2022.
The infrastructure projects mentioned are good for the economy, create jobs, improve the quality of life and are important elements for the attractiveness of the investment location and the real estate in Panama.